Denali Advisors LLC Has $6.99 Million Stock Holdings in Byline Bancorp, Inc. $BY

Denali Advisors LLC lifted its stake in shares of Byline Bancorp, Inc. (NYSE:BY) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,516 shares of the company’s stock after purchasing an additional 18,100 shares during the quarter. Denali Advisors LLC’s holdings in Byline Bancorp were worth $6,987,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Byline Bancorp during the second quarter worth about $132,220,000. Deutsche Bank AG bought a new position in Byline Bancorp in the 2nd quarter valued at about $1,124,000. Bank of New York Mellon Corp bought a new position in Byline Bancorp in the 2nd quarter valued at about $6,294,000. Empowered Funds LLC raised its position in shares of Byline Bancorp by 5.0% in the 1st quarter. Empowered Funds LLC now owns 202,525 shares of the company’s stock valued at $6,394,000 after buying an additional 9,600 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Byline Bancorp by 11.3% in the 1st quarter. Bank of America Corp DE now owns 135,836 shares of the company’s stock valued at $4,288,000 after buying an additional 13,763 shares in the last quarter. Institutional investors own 67.73% of the company’s stock.

Insider Activity at Byline Bancorp

In other news, insider Dana Rose sold 2,421 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $39.00, for a total transaction of $94,419.00. Following the completion of the transaction, the insider directly owned 11,605 shares in the company, valued at approximately $452,595. This represents a 17.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Roberto R. Herencia sold 19,750 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $39.21, for a total value of $774,397.50. Following the completion of the transaction, the chief executive officer owned 411,643 shares of the company’s stock, valued at $16,140,522.03. The trade was a 4.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 622,171 shares of company stock valued at $24,328,816 over the last three months. 29.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on BY shares. Zacks Research lowered shares of Byline Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Byline Bancorp from $37.00 to $41.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Byline Bancorp in a research note on Friday, August 7th. Piper Sandler raised their target price on Byline Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Finally, Raymond James Financial started coverage on Byline Bancorp in a report on Wednesday, July 8th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Byline Bancorp currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Byline Bancorp Trading Down 2.3%

BY opened at $38.20 on Thursday. The company has a market cap of $1.73 billion, a P/E ratio of 11.54 and a beta of 0.71. The company’s 50 day moving average is $37.70 and its 200-day moving average is $34.29. Byline Bancorp, Inc. has a 1-year low of $25.57 and a 1-year high of $40.03.

Byline Bancorp (NYSE:BY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.12. The business had revenue of $117.71 million during the quarter, compared to analysts’ expectations of $115.78 million. Byline Bancorp had a net margin of 23.36% and a return on equity of 11.84%. On average, equities analysts forecast that Byline Bancorp, Inc. will post 3.35 EPS for the current year.

Byline Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This is a boost from Byline Bancorp’s previous quarterly dividend of $0.12. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. Byline Bancorp’s payout ratio is presently 16.92%.

Byline Bancorp Profile

Byline Bancorp, Inc is the bank holding company for Byline Bank, a full-service commercial bank headquartered in Chicago, Illinois. Established under its current name in 2016, the company operates as a community-focused financial institution offering a broad array of banking products and services to corporate, professional and consumer clients.

On the commercial banking side, Byline Bancorp serves small and midsize businesses, real estate developers, professional services firms and nonprofit organizations.